The effects of COVID-19 are hitting ASEAN economies, especially on the tourism and trade sectors. Uncertainty is driving negative sentiment and is eventually affecting investment and output. Supply disruptions mostly from China will continue to have an impact on the supply chain and will continue to disrupt production in the short term.
Majority of steel producers in ASEAN-6 region are rolling mills. Demand for semi-finished steel is mainly served by imports as ASEAN steel mills are short on semi-finished steel, such as billets and slabs. Domestic production of semi-finished steel is mainly to serve continuous rolling capacity within the mills; these are not for exports.
Tehran has imposed new limits on exports of Iranian steel, requiring exporters to secure export permission from the ministry of industry, mine and trade.
Our members have been making major announcements on breakthrough technology investment and planning using 2050 as the common target date. This has thrown a spotlight on the next 30 years. What is the steel industry planning to do between now and then?
